CALGARY - Energy company Atco Ltd. (TSX:ACO.X) is increasing its quarterly dividend some 15 per cent.

The Calgary-based concern says the dividend will rise to 37.5 cents per share from 32.75 cents.

The new, higher dividend is payable March 31 to shareholders of record on March 8.

Based on Atco's closing price of $80.70 Thursday on the Toronto Stock Exchange, the new dividend would produce an annual yield of 1.85 per cent.

Atco, with more than 8,800 employees and assets of about $14 billion, is involved in power generation, natural gas gathering, processing, storage and liquids extraction, manufacturing, logistics and noise abatement.